US Stock Futures Point To A Robust Start Of The Trading Week
After the long weekend, today was the first opportunity for investors to react to Friday's jobs report released by the Labor Department. As a result, US stock market futures went up today, with futures on the Dow Jones Industrial Average climbing 37 points at 10897 and those on the S&P 500 advancing 2.6 points to 117603. Meanwhile, Nasdaq 100 futures added 10.75 points to 1962.75.
Today, investors await the Institute for Supply Management (ISM) manufacturing index for March. The ISM service index for last month is expected to rise to 54 from 53 in February, reflecting a positive sign for the economy.
Meanwhile, the Fed is due to hold a closed-door meeting today to review the discount rate, which currently stands at 0.75%. The discount rate is what Fed banks charge institutions that are seeking emergency funds. The week will be full of comments from Fed Chairman Bernanke, with more than $200 billion worth of bonds going on auction from Monday to Thursday.
On the corporate front, Apple (NASDAQ: AAPL) may be in focus after the debut of its iPad this weekend. Some analysts believe that iPad sales have been more than twice of what was expected.
While stock markets in London and Europe were closed for a holiday, Japan's Nikkei Stock Average of 225 companies rose 0.5% and closed at a new 18-month high for the third consecutive session. Nikkei benefited from the weaker yen that drove up the shares of exporters.
Read more from Benzinga's Markets.
